HSBC has introduced a blanket ban on customers using credit cards to gamble.
Last week, new regulations prevented gamblers from using credit cards for online accounts.
However HSBC’s move goes further by preventing customers from using credit cards on spread betting or overseas gambling websites.
Support
HSBC announced the measure to extend the credit card ban last week to support the Gambling Commission’s new regulations.
In a statement, the bank said that “all gambling transactions using credit cards, where we have reason to believe they are for gambling purposes, will be declined”.
The bank are also offering help and support for customers with gambling related issues.
Vulnerable
MPs have called on betting firms to take action to protect vulnerable people in lockdown during the coronavirus pandemic.
Carolyn Harris MP, Chair of the All-Party Parliamentary Group (APPG) on Gambling Related Harm, and Vice Chair Iain Duncan Smith, said the gambling industry must prove that it “is willing to ensure that vulnerable customers are put before profits”.
The MPs called for a ban on promotional advertising, a £2 cap on online bets and “strict limits on deposits”.
Also see:
MPs call on gambling industry ‘to put vulnerable people ahead of profits’
Gambling credit card ban now in force
Gamblers searching for help bombarded by betting ads instead